‘Pay salaries or face an audit’: NCLT warns crisis-hit edtech firm Byju’s

The National Company Law Tribunal (NCLT) on Thursday directed the crisis-hit edtech firm Byju’s to pay its employees’ salaries, even if it doesn’t have access to the funds raised through its rights issue.

“You are a company that is functioning. Surely, you should be having revenues,” the Bengaluru bench of NCLT told Byju’s, warning that its failure will result in an audit by the Institute of Chartered Accountants of India (ICAI).